City of Spokane

Spokane Municipal Code

***Note: Many local criminal codes can now be located under Chapter 10.60 SMC while others are now cited under the Revised Code of Washington (RCW), which was incorporated into the municipal code in 2022. (See SMC 10.58.010). Code Enforcement, including Noise Control and Animal Regulations are located in Chapters 10.62 through 10.74.

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Title 07
Chapter 07.08
Section 07.08.509
 

Title 07 Finance

Chapter 07.08 Funds

Article VI. Internal Service Funds

Section 07.08.509 Asset Management Fund

  1. There is created a fund to be known as the “asset management fund” for the purpose of planning, designing, constructing/demolishing, procuring, managing and selling real property and infrastructure for City departments/funds. 

  2. All moneys deposited in the fund shall be expended through the usual fiscal officers of the City as directed by the legislative authority of the City and in accordance with approved budgets for the design, construction/demolition, procurement or management of real property and for payments of debt related to property owned by the fund. 

  3. All moneys deposited into the fund and not expended shall remain in the fund from year to year and shall not be transferred to any other fund or expended for any other purpose whatsoever, except by appropriate action of the city council. 

  4. The City fund that uses the property owned by the asset management fund for its operating activities is responsible for all expenses related to the maintenance and operation of the property.

  5. To the extent permitted by law, all moneys from the sale of real properties surplused by the city council shall be deposited into the fund.

  6. To the extent permitted by law, all proceeds from the sale of low-value personal property or equipment conducted as authorized under SMC 12.05.040 shall be deposited into the fund.

Date Passed: Monday, June 5, 2017

Effective Date: Wednesday, July 19, 2017

ORD C35501 Section 2